Posted by
Emilio Pino in
Real Estate Investment on
12 16th, 2009 |
no responses Non-resident individuals owning real estate properties in Spain have the obligation to declare and pay the following taxes every year:
- Land Rate tax (or I.B.I. ) , yearly payable to the municipality. It is based on the valor catastral (officially rated value) of each property and can vary broadly from town to town.
- Property owners’ attributed income tax. Also a yearly tax. Non residents pay two percent of the “valor catastral”, a officially rated value, of their property attributed to them as a sort of made-up income. In case the property rated value has been recently raised property owners pay 1.1 percent.
